Manali Petrochem CMP : 81.15 SL on closing basis 78.6. Tgt 91
Distribution Phase formed here. Expect downside from here expect down side around 60
Manali Petro Chems Forms A Descending Triangle . Breaks The Trend And Goes Down . You Can Do Short Selling And Earn Money In DownTrend. Target It Around 82. . . . HIT THE LIKE BUTTON' FOLLOW FOR MORE UPDATES . COMMENTS ARE ALWAYS WELCOME.
The stock looks good above 89.4 level for further upmove - can test 95-100 sustains well above 90 level.
Manali petro chemicals is very bullish for last few months and had gave awesome gains. Again a breakout expected in this. Needs nifty support for that and nifty is also looking bullish. This post is for information purpose only.
education purpose only IT seems like stock Resistance zone now changed to support & volume confirmation at breakout & long wick rejection may 14 can be seen.
The stock looks good above 78.8 level for 6-8% more upmove
My idea is for educational purpose. Buy Manlai Petroleum @65 for short term gain.
good company fundamentally .. nice breakout after 2018.. crude prices going up.. so beneficial in that way.. chart explains my trading plan.. this is my own trading plan and view.. only for self tracking..
charts are self explnatory by timing got good entry.. charts were not working because of market hence couldnt post anything should hit one more circuit tommrow or atleast 10% up
buy manali at cmp chances of gapup is still there which can ruin our setup
MANALIPETC- daily chart trading between the triangle pattern and currently stock trading at 38.70 level and stock started forming volume from support with morning and now possibly stock can break 38.70 level and sustain above this, and we can see possibly movement towards 43.00/48.00 levels in coming days with the help of 34.00 support level.
After dramatic rise, consolidating at top forming bullish pattern. Breakout can be good opportunity to buy.
Could be a good investment opportunity above 36.85. Buying around 36/38 (if it closes above 36.85) With SL around 28.75 (day close below 28.75) For targets of 52+ in short term.